Blockchain startup Eden Network has announced a complete shutdown, citing increasing competition in the MEV sector and high operating expenses. The project, known for its tools protecting against the negative effects of maximal extractable value (MEV), has launched a buyback program allowing EDEN token holders to exchange them for ETH. The program will run until September 30.
Reasons for Closure
In its official statement, the team explained that over time, the market for relays and block builders had become extremely competitive and costly, with only a few operators able to remain profitable. Despite early success, Eden could not maintain its position, and after consulting with the community, decided to close.
Product Shutdown
Following the announcement, Eden Network has stopped the following services:
- Eden RPC and Eden Rocket RPC (alternative - Flashbots Protect)
- Eden Bundles (alternative - Flashbots Bundles)
- Mempool Stream (alternative - Blocknative Mempool Explorer)
- Tx Explain (alternative - ChatGPT, Grok, Claude)
- Eden Public Data (alternative - Flashbots MEV-Share, Mempool Dumpster)
- 0xProtect (alternative - OFAC sanctions list)
Earlier in 2024, Eden Relay was transferred to Gattaca.
EDEN-to-ETH Swap Program
According to the team, Eden Network’s treasury currently holds 2,000 ETH, which will be fully distributed among EDEN holders through a “retirement” program.
- Fixed rate: 0.00001506 ETH per 1 EDEN (~66,401 EDEN = 1 ETH)
- Available volume: only the current ~132,800,000 EDEN in circulation
- All treasury tokens and unissued team tokens have been burned
The program is already open and will close on September 30, 2025, at 23:59 UTC. It is available only to non-US residents.
EDEN holders can make the swap on the project’s website, while stakers can withdraw their tokens through Eden’s web application. Any ETH left in the contract after the swap window closes will be used to cover administrative expenses related to the company’s liquidation.
From Archer DAO to Eden Network
The company began operations in 2020 as Archer DAO, aiming to create a new revenue stream for Ethereum miners by extracting profit from MEV. After the implementation of EIP-1559 in 2021 reduced miner profitability, the project was relaunched as Eden Network with the goal of supporting miners while also protecting users from MEV’s negative aspects.
At its peak, partnerships with miners secured more than 50% of Ethereum’s network hashrate, and thousands of transactions passed daily through its RPC service. Following Ethereum’s transition to Proof-of-Stake, Eden became an operator of an MEV-Boost relay.
This post is for informational purposes only and does not constitute advertising or investment advice. Please conduct your own research before making any financial decisions.